Mexico's Olmeca Refinery Hits 320,000 Barrels a Day—But at What Cost?
Mexico's Olmeca refinery in Tabasco has rapidly scaled up production since launching in mid-2025. President Claudia Sheinbaum Pardo called its progress 'extraordinary', though the project has faced criticism over costs and environmental impact. By December 2025, the facility processed an average of 263,000 barrels daily, with peaks reaching 320,000.
The Olmeca refinery began operations in July 2025, but its first processing train had already restarted in March of that year. Initially, it handled 105,000 to 110,000 barrels per day. A second train came online in June, pushing capacity to between 150,000 and 160,000 barrels.
By December 2025, daily output averaged 263,000 barrels, with sustained peaks of 320,000. Pemex now expects full capacity soon, matching its 2026 target of 320,000 barrels. Combined with the Deer Park refinery's 200,000 barrels, Mexico's total refining capacity should hit 1.5 million barrels per day by the end of 2026.
International experts remain divided. Some praise the refinery's role in boosting Mexico's energy independence and state revenue. Others question its $13.9 billion price tag, environmental risks, and long-term viability in a shrinking global refining market. Sheinbaum dismissed criticism as rooted in 'the myths of neoliberalism'.
The Olmeca refinery is now a key part of Mexico's energy strategy. With output rising steadily, Pemex aims to meet its 2026 goals ahead of schedule. The project's success will depend on balancing production growth with economic and environmental challenges.
